Long Term Care and Health Insurance Reform (CLASS)

by Michael on April 20, 2010

in Insurance Newswatch,Long Term Care

A little published provision of the so-called Health Care Reform, is a provision called CLASS. This is ostensibly to provide a level of Long Term Care benefits to all Americans.

The actual portion of this bill reads like this: (but please keep reading)

STATED PURPOSE OF THE BILL (Sec. 3201)”The purpose of this title is to establish a national voluntary insurance program for purchasing community living assistance services and supports in order to–`(1) provide individuals with functional limitations with tools that will allow   maintain their personal and financial independence and live in the  a new financing strategy for community living assistance services  ;`(2) establish an infrastructure that will help address the Nation’s   assistance services and supports needs;`(3) alleviate burdens on family caregivers; and`(4) address institutional bias by providing a financing mechanism that supports personal choice and independence to live in the community.”

The bill provides a very modest amount of daily cash as a benefit (much less than what is typically required), and a person must pay for FIVE years before there are any benefits. It is my understanding that if a person opts out and does not pay in, they cannot come in later. Actual rates are not yet published, but are expected to be higher than what is traditionally available from private insurance.

So that I am not misunderstood: Long Term Care benefits are needed. However, is there a better way?

The answer in almost all cases is: YES!

I encourage you to look at this and ask me for more information. I can provide you with a way of taking care of Long Term Care needs (should that need arise), while at the same time providing living benefits for yourself should you get injured or sick, or should you have to deal with a life changing critical illness (like Cancer) – and at the same time, provide a death benefit for your spouse and/or children!

Call me (209.390.1163) or email me (michaelpmyers @ gmail.com) for more information.

Michael Myers

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